Cameco (NYSE:CCJ) Coverage Initiated by Analysts at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Cameco (NYSE:CCJ) (TSE:CCO) in a research report released on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating on the basic materials company’s stock.

A number of other equities analysts have also issued reports on CCJ. Royal Bank of Canada restated an “outperform” rating and set a $90.00 target price on shares of Cameco in a research report on Tuesday, March 4th. StockNews.com lowered shares of Cameco from a “hold” rating to a “sell” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Cameco currently has an average rating of “Buy” and an average target price of $73.64.

Cameco Stock Up 1.5 %

CCJ stock opened at $42.44 on Wednesday. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. Cameco has a twelve month low of $35.43 and a twelve month high of $62.55. The company’s 50 day moving average is $47.80 and its two-hundred day moving average is $49.91. The stock has a market cap of $18.47 billion, a P/E ratio of 151.55 and a beta of 1.04.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. The business had revenue of $845.54 million for the quarter, compared to analyst estimates of $1.09 billion. Cameco had a net margin of 5.39% and a return on equity of 4.34%. Research analysts expect that Cameco will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cameco

A number of hedge funds and other institutional investors have recently bought and sold shares of CCJ. Norges Bank purchased a new position in Cameco in the 4th quarter valued at $188,595,000. FMR LLC boosted its position in shares of Cameco by 8.7% during the 4th quarter. FMR LLC now owns 22,639,647 shares of the basic materials company’s stock worth $1,163,942,000 after purchasing an additional 1,811,876 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Cameco by 58.0% during the 3rd quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock worth $181,382,000 after purchasing an additional 1,386,639 shares in the last quarter. Driehaus Capital Management LLC boosted its position in shares of Cameco by 120.2% during the 4th quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company’s stock worth $115,398,000 after purchasing an additional 1,225,966 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Cameco by 13.5% during the 4th quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company’s stock worth $518,443,000 after purchasing an additional 1,196,336 shares in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.